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De Beers’ steps up ‘wheat-from-chaff’ strategy against Russia

Friday, August 19, 2022 | 1550 Views |

Seeking value: De Beers wants its stones to stand out to retailers and consumers alike PIC: MORERI SEJAKGOMO

A few months after launching an initiative that gives jewellery retailers a blockchain-backed assurance of the source of their rough diamonds, De Beers is stepping up its traceability efforts to consumers, where the battle between “good and bad” diamonds is ultimately won and lost. Staff Writer, MBONGENI MGUNI explains

One of the world’s leading publications, The New York Times, this week ran an article on Russia’s efforts to prevent the Kimberley Process or any other organisation from labelling its diamonds as “conflict or blood”.

Part of the article reads: “Because of loopholes and technicalities, so-called ethical diamonds don’t really exist, many jewellers acknowledge.”

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De Beers’ steps up ‘wheat-from-chaff’ strategy against Russia